Cheap Apartments for Rent in the Fountain Square Neighborhood of Indianapolis, IN from $800 (55 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Fountain Square area of Indianapolis.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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1354 Shelby St
1 Bedroom Apartments

1354 Shelby St

1354 Shelby StIndianapolis, IN 46203
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The Vue
Studio to 2 Bedroom Apartments

The Vue

718 E Georgia StIndianapolis, IN 46202
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550 Fletcher Ave
2 Bedroom Apartments

550 Fletcher Ave

550 Fletcher AveIndianapolis, IN 46203

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Fletcher Place Lofts
1 Bedroom Apartments

Fletcher Place Lofts

410 S College AveIndianapolis, IN 46203
  • Utilities Included

Fountain Square - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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property at 155 Harlan St

155 Harlan St

IndianapolisIN46201
Showing Results 1-50, Page 1 of 2

Fountain Square, Indianapolis, IN Local Guide

Cheapest Available Fountain Square Apartments for Rent

 

The cheapest available apartment rental in the Fountain Square area of Indianapolis, IN is a 1 Bed unit found at Madison Lofts priced from $830. Lofts on Madison has the second lowest priced unit, which is a Studio apartment currently listed from $1,049. Here are the most affordable Fountain Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Madison Lofts1x1 583sf1BR,1BA$830
Lofts on MadisonStudioStudio,1BA$1,049
The VueSTUDIO APARTMENTStudio,1BA$1,146
Rise on MeridianThe AmeliaStudio,1BA$1,251
The LeoThe EliStudio,1BA$1,285
Mozzo apartmentsModern Studio, Steps Away from Downtown and Fou...Studio,1BA$1,299
9 on CanalStockholm1BR,1BA$1,330
CityWayAmaranth1BR,1BA$1,355
Industry IndianapolisStudio - SaStudio,1BA$1,441
Union SquareThe Cornell1BR,1BA$1,510

Best Value Apartments for Rent in Fountain Square, IN

As of June 16, 2025 the best value apartment in the Fountain Square area is the $1.06 price per square foot 1 Bedroom 1 Bath Model at The Block in the in the Riley neighborhood starting from $1,539. The second greatest value Fountain Square apartment is the K Model at Five Twenty Virginia starting at $1,879 with a $1.85 price per square foot in the Wholesale District neighborhood. Here is today’s list of the best values for Fountain Square apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Block1 Bedroom 1 Bath1BR,1BA$1.06
Five Twenty VirginiaK2BR,1BA$1.85
CityWayCrimson2BR,2BA$2.49
Union SquareThe Christie Furnished1BR,1BA$2.68
The VueONE BEDROOM APARTMENT1BR,1BA$1.63
Madison Lofts1x1 657sf1BR,1BA$1.90
Mozzo apartmentsLive in The Heart of Fountain-Fletcher Arts Dis...1BR,1BA$2.22
The LeoThe EliStudio ,1BA$2.36
9 on CanalManchester1BR,1BA$2.73
Lofts on MadisonStudioStudio ,1BA$2.10

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Fountain Square, Indianapolis, IN

Ranked #54

Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Getting Around the Fountain Square Neighborhood in Indianapolis, IN

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

95 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

41 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Fountain Square Apartments

What is the Cheapest Studio apartment in Fountain Square?

Currently the most affordable Cheap Studio Apartment in Fountain Square is at Lofts on Madison listed at $1,049.

How much is rent for a Cheap One Bedroom Fountain Square Apartment?

The lowest price for a Cheap One Bedroom Fountain Square Apartment is $830 at Madison Lofts.

What is the lowest price for a Cheap Two Bedroom Fountain Square Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Fountain Square is starting from $1,374 at Madison Lofts.

What is the most affordable Fountain Square Three Bedroom Apartment?

The best deal on a cheap Fountain Square Three Bedroom Apartment rental is at 9 on Canal and starts from $3,365.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.